All major screenreaders work from the DOM and the accessibility tree nowadays, and have done for a long time at this point. Dynamic content is no problem in and of itself.
I've bookmarked this site: "Testing a React-driven website’s SEO using “Fetch as Google" https://medium.freecodecamp.com/using-fetch-as-google-for-se...
That talks about this. Not had a chance to verify this. just a fyi.